AO Calculates Deemed Income for Vacant Property Using 7% ALV, Allows Full Deduction on Interest Paid by Assessee.

AO Calculates Deemed Income for Vacant Property Using 7% ALV, Allows Full Deduction on Interest Paid by Assessee. https://www.taxtmi.com/highlights?id=25131 Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed house property income of ₹ 1,40,185/- assessee has paid interest of ₹ 3,50,641/- as interest towards vacant property - entire interest payment allowed as deduction - AT en-us Tue, 06 Oct 2015 07:31:13 +0530 Tue, 06 Oct 2015 07:31:13 +0530 TaxTMI RSS Generator AO Calculates Deemed Income for Vacant Property Using 7% ALV, Allows Full Deduction on Interest Paid by Assessee. https://www.taxtmi.com/highlights?id=25131 Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed house property income of ₹ 1,40,185/- assessee has paid interest of ₹ 3,50,641/- as interest towards vacant property - entire interest payment allowed as deduction - AT Highlights Income Tax Tue, 06 Oct 2015 07:31:13 +0530 https://www.taxtmi.com/highlights?id=25131